Elevance Health, Inc. (NYSE:ELV) Shares Bought by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 8.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 23,322 shares of the company’s stock after buying an additional 1,853 shares during the period. Geneos Wealth Management Inc.’s holdings in Elevance Health were worth $8,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of ELV. Cypress Wealth Services LLC increased its holdings in Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after acquiring an additional 23 shares in the last quarter. Atomi Financial Group Inc. grew its position in shares of Elevance Health by 4.2% in the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares during the period. Lifeworks Advisors LLC increased its stake in shares of Elevance Health by 2.5% during the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares in the last quarter. Catalyst Financial Partners LLC raised its position in shares of Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after purchasing an additional 26 shares during the last quarter. Finally, Fullcircle Wealth LLC lifted its stake in Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 0.0 %

Shares of ELV opened at $401.43 on Friday. The company’s 50-day moving average price is $386.21 and its 200 day moving average price is $462.34. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $93.10 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. On average, sell-side analysts forecast that Elevance Health, Inc. will post 32.95 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. Elevance Health’s payout ratio is presently 23.77%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ELV. Royal Bank of Canada reduced their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday. Barclays lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday. TD Cowen reduced their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $525.60.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.